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Simply put it's a server. It's designed to do work in the background and provide a service to the client computers. It could provide a database, an email system, a data entry system, or domain controller services.

It's a powerful computer put in a 2U chassis (case). It is made to be mounted in a server rack and not touched once it's in place. You can connect a keyboard/monitor/mouse, but it will be very laggy and slow to respond. The video output is limited to a very low resolution and very low frames per second. It will be very loud and cannot use it to replace a regular desktop computer.

This computer has lots of processing power and lots of memory. It has no video processing power and no sound output. The intent of the video output is to get the operating system installed and configured for remote access. Once it's turned on and configured, you only access it through remote desktop. It sits in the server room and you remote into it to do all configuration.

No the item is not bad, it just doesn't suit your needs. You will need to purchase a server operating system and special hard drives (will cost you many times more than the server is priced at)

Can it run a minecraft server? Yes it could, but it is not designed for it and would be seriously overkill. It would be a dedicated minecraft server and you would not be able to play minecraft on it.

Overall it's not what you need and you likely don't know the first thing about how to get it running (booting to hard drives attached to a RAID controller)

Just so you know "Willard2.0" I am currently playing Modded Minecraft (Yogscast Complete Pack) on a Dell Poweredge III Server computer right now. Of course with some modifications. I have installed Win 7 ultimate on it, a new video card (had to modify the riser card port (Wasn't worried about messing it up because I have two poweredges) to make it fit. Furthermore to the video, I removed the remote access card completely because it doesn't need it for my use. I have it in the 8x PCIe port. Grabbed a USB Sound Blaster 5.1 sound card (device) that outputs really good sound. Set it up for RAID 5 and I'm using only 2 HDDs in it at the moment which are just SATA, didn't even have to use the SAS drives that it was intended for. The only issues I'm having is the fact that one of my DIMM slots are bad on the motherboard, so here in a few days I'm going to do a Motherboard swap and reflow the old one to see if that worked. I completely disabled the onboard video because it was too crappy to display anything to my liking. Not to mention I can add a third monitor via HDMI (and I confirmed that three monitors do work together with absolutely no lag or quality loss. Specs of playing Minecraft on it, I'm getting an average of 41 FPS with fairly low video settings across two monitors (extended) single monitor 60 FPS on low settings, and on all high settings it is about 30-35 FPS which still isn't bad for what it is... Oh I left out something, I also plugged in a PCIe USB 3.0 card into one of the other slots so I have some nice USB as well. Had to do some Modding to the power harness coming from the PSUs to get some power over to the card, but that is okay, it looks and is professionally done. Used some new molex ends and put a nice interconnect onto the power harness and also soldered the connections after crimping so insure that there was little to no resistance going through the power harness. So in short, this can be done, is it worth it? Well maybe if you like to mod stuff and have an empty slot in your rack (assuming you have one like I do) do it, otherwise just make a desktop. One can make a pretty good desktop for just shy of 700 USD. . .